2 Reasons Geron Corporation Took a Pounding in November
Shares of Geron Corporation (NASDAQ: GERN), a clinical-stage biotech company focused on the development of oncology drugs, sank 12% during the month of November, according to data from S&P Global Market Intelligence. The reason for the poor performance, you ask? It looks to be a combination of the company's third-quarter earnings report and collaborative concerns with Johnson & Johnson (NYSE: JNJ).
November began on a sour note after Geron reported its third-quarter operating results. As a company without a Food and Drug Administration (FDA)-approved product, expectations were already pretty low. However, Geron wound up reporting a near-doubling in its net loss, to $6.9 million from $3.6 million.
With clinical studies ongoing for imetelstat, its only drug in development, higher expenses are to be expected. Nonetheless, with no other sources of revenue at the moment aside from its collaboration with Johnson & Johnson concerning imetelstat, Geron's expanding losses can be worrisome.
Source: Fool.com
Geron Corp. Aktie
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